El Jimador is pretty good for being relatively cheap ($20-22 for 750ml usually) but are there any other good below $20 tequilas out there are at least below $25? Also, do you guys have any good drink recipes for tequila? Maybe a killer margarita recipe or something a bit different? Thanks

El Jimador Reposado was the default table tequila for most of the events (wedding receptions, anniversaries, mariachi concerts, etc.) I went to in Jalisco about 10 years ago. Whereas wine or champagne might be served in the US, in Mexico you'd have bottles of El Jimador and Squirt.

Then, like Pio said, they started selling it as a mixto and it lost its authenticity. I don't think it remained as popular.

Anyway, tequila + Squirt is the most popular way Mexicans drink it mixed. And, while El Jimador Reposado was popular as the default "good value" tequila, the tequila recognized as the default "good" tequila was, and still is (at least among the older generation), Cazadores Reposado. This is aside from all the premium tequilas that gained popularity in the last few years, though, with shots selling for more than a decent bottle and every other song on hip-hop radio stations talking about Patron shots.

And to answer the earlier question:
At a distillery I was told that it takes 51% Agave alcohol to be called tequila, so most mixtos meet this minimum and the rest is sugar cane alcohol (since it's cheap to produce) and caramel coloring (unless it's a blanco, of course). This came from a distillery that doesn't make mixtos though. Then it's all watered down with distilled water to bring it down to a legal proof.

El Jimador is pretty good for being relatively cheap ($20-22 for 750ml usually) but are there any other good below $20 tequilas out there are at least below $25? Also, do you guys have any good drink recipes for tequila? Maybe a killer margarita recipe or something a bit different? Thanks

Stick with the original recipe for a margarita. Tastes great, but be careful, they can catch up to you quickly. 2 parts tequila 1 part Cointreau 1 part fresh lime juice I personally think Milagro Silver tastes like ass and is a complete disappointment for the price. Cabo Wabo is my go to.